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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (32869)9/25/1998 1:55:00 PM
From: Skeeter Bug  Read Replies (1) | Respond to of 132070
 
tip, the lower rates the easier it is to borrow. when you are down, you need to borrow ;-) just like at cards. check out rounder at a matinee ;-)



To: yard_man who wrote (32869)9/25/1998 2:11:00 PM
From: Joseph G.  Read Replies (1) | Respond to of 132070
 
<<I've read several articles, but still don't know what the specific bets were>>

primarily, short treasuries vs. long CMOs, to get the spread of ~1% for free. Works if interest rates don't move much; if they move much in either direction, such position, if heavily leveraged, gets busted, at least short term, as happened ...


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